The firm announced a 14 percent drop year-over-year in fourth quarter revenues and plans to reduce personnel and other costs to support development of a precision drug it has licensed.
Backed by $12 million from a recent Series A financing and a strategic partnership with Thermo Fisher Scientific, the Ann Arbor, Michigan-based firm plans to sequence the tumors of 100,000 advanced cancer patients over three years.
Portable's mobile app allows patients to capture genotype, phenotype, and other data, and potentially profit from sharing it with interested third parties.
Using Luminex's FlexMap detector, the method allows quantification of cells in a mixture of up to hundreds of individual cells lines treated with drugs in vitro.
Under the terms of the agreement, Insilico Medicine will integrate unspecified data assets and the staff of Belgian bioinformatics company InSilico Screen.
